JinkoSolar (NYSE:JKS) Stock Price Down 7.7% – Should You Sell?

Shares of JinkoSolar Holding Company Limited (NYSE:JKS) dropped 7.7% during mid-day trading on Thursday . The company traded as low as $24.18 and last traded at $24.0270. Approximately 142,458 shares changed hands during mid-day trading, a decline of 79% from the average daily volume of 683,545 shares. The stock had previously closed at $26.04.

Analyst Upgrades and Downgrades

JKS has been the topic of a number of recent research reports. Zacks Research cut JinkoSolar from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, February 11th. UBS Group cut their target price on JinkoSolar from $25.00 to $23.00 and set a “neutral” rating on the stock in a research note on Wednesday, April 29th. Wall Street Zen upgraded JinkoSolar from a “sell” rating to a “hold” rating in a research note on Saturday, May 2nd. Weiss Ratings cut JinkoSolar from a “hold (c-)” rating to a “sell (d)” rating in a research note on Wednesday, May 6th. Finally, Freedom Capital upgraded JinkoSolar from a “hold” rating to a “strong-buy” rating in a research note on Friday, April 17th. One investment analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, three have assigned a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $24.13.

JinkoSolar Trading Down 0.9%

The business has a fifty day moving average of $24.02 and a 200-day moving average of $25.77. The stock has a market capitalization of $1.29 billion, a price-to-earnings ratio of -2.53 and a beta of 0.53. The company has a debt-to-equity ratio of 1.16, a current ratio of 1.26 and a quick ratio of 0.95.

JinkoSolar (NYSE:JKS) last released its quarterly earnings results on Wednesday, April 29th. The semiconductor company reported ($1.52) earnings per share for the quarter, beating analysts’ consensus estimates of ($1.84) by $0.32. JinkoSolar had a negative return on equity of 9.52% and a negative net margin of 5.62%. On average, equities analysts anticipate that JinkoSolar Holding Company Limited will post -2.76 earnings per share for the current fiscal year.

Insider Transactions at JinkoSolar

In other news, Director Wing Keong Siew sold 16,000 shares of JinkoSolar stock in a transaction dated Wednesday, May 13th. The stock was sold at an average price of $26.11, for a total transaction of $417,760.00. Following the completion of the sale, the director directly owned 186,000 shares in the company, valued at $4,856,460. The trade was a 7.92% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Xianhua Li sold 1,280,000 shares of JinkoSolar stock in a transaction dated Wednesday, May 13th. The shares were sold at an average price of $25.53, for a total value of $32,678,400.00. Following the sale, the director owned 10,349,612 shares of the company’s stock, valued at approximately $264,225,594.36. This represents a 11.01% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Company insiders own 19.80% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in JKS. Geode Capital Management LLC raised its stake in shares of JinkoSolar by 9.9% in the 2nd quarter. Geode Capital Management LLC now owns 37,671 shares of the semiconductor company’s stock valued at $799,000 after acquiring an additional 3,394 shares in the last quarter. JPMorgan Chase & Co. raised its stake in shares of JinkoSolar by 7,759.6% in the 2nd quarter. JPMorgan Chase & Co. now owns 11,082 shares of the semiconductor company’s stock valued at $235,000 after acquiring an additional 10,941 shares in the last quarter. Raymond James Financial Inc. bought a new position in shares of JinkoSolar in the 2nd quarter valued at approximately $47,000. SG Americas Securities LLC raised its stake in shares of JinkoSolar by 63.0% in the 3rd quarter. SG Americas Securities LLC now owns 66,997 shares of the semiconductor company’s stock valued at $1,610,000 after acquiring an additional 25,903 shares in the last quarter. Finally, Mitsubishi UFJ Trust & Banking Corp bought a new position in shares of JinkoSolar in the 3rd quarter valued at approximately $1,162,000. 35.82% of the stock is owned by institutional investors.

JinkoSolar Company Profile

JinkoSolar Holding Co, Ltd. (NYSE: JKS) is a vertically integrated solar photovoltaic (PV) manufacturer headquartered in Shanghai, China. The company specializes in the design, development and production of high-performance solar modules, silicon wafers, solar cells and related components. Since its founding in 2006, JinkoSolar has become one of the world’s largest solar module suppliers, known for delivering reliable products to utility, commercial and residential customers.

JinkoSolar’s product portfolio encompasses a broad range of monocrystalline and polycrystalline PV modules, including half-cell, bifacial and high-efficiency Tiger module series.